Last updated: 18 Feb, 2021 | 07:47 am
Rating agency ICRA Limited has upgraded the credit ratings of Bajaj Electricals
Instruments which have been upgraded
Implications of the upgrade
Robust Q3 results
In the Oct-Dec 20 period, Bajaj Electricals reported a multi-fold rise in net profit to Rs 98.19 crore from 9.37 crore in the year ago period. The quarter saw marked improvement in the company's business, as demand recovered. The company's revenue from the consumer product segment grew by 34.02% on-year to Rs 1,152.83 crore as against Rs 860.21 crore due to cost efficiencies and operating leverage.
The Consumer Products business has delivered strong growth in the quarter despite continuing supply challenges and increase in commodity prices. The company is well-positioned to take advantage of demand recovery going forward.